chang1
Returning Member

I am not a US citizen and I have an IRA account in my home country. Is it a "foreign financial account" or an "other foreign financial asset" for form 8938?

As title. I don't quite understand the difference between Foreign Financial Accounts and Other Foreign Financial Assets.

Last year I filed my life insurances and a foreign IRA as Other Foreign Financial Assets. It seems wrong? Although it didn't affect my final tax amount, do I need to amend the last year's filing?